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Active
475 Oxford Street Chula Vista, CA 91911
$1,799,000
8 beds
4 baths
2,975 sq ft

Courtesy of Premier Properties.

Property Description

LOCATION, VALUE ADD, + DEVELOPMENT OPPORTUNITY! In the opportunity zone, this SFR + Duplex have potential to add value. This is a double lot located in West Chula Vista with freeways, public transportation, and shopping accessible. This property boasts a 4 bed + loft, 2 bath Single Family Residence as well as a Duplex with 2 beds, 1 bath per unit (newly constructed). The existing 3 units are all built on 1 side of the almost 16,000 sqft lot. New owners can LOT SPLIT or continue to develop the west half of the property utilizing SB-9 regulations to their advantage. Each unit has designated parking and washer/dryer hookup. Take advantage of South Bay’s growth and appreciating rental market by buying into an investment property within close proximity to some of the region’s most rapidly growing job locations including the Navy’s newly built $1B Silver Strand Training Complex, the $1.3B Chula Vista Bayfront Development, and Amazon’s new $3M facility. All 3 units are currently rented on a month-to-month lease, have ample parking, and have their own washer/dryer hookup. Seller is willing to Carry Back. Unit 1: SFR 3 bed/2 bath, Rent is $2955, Pro Forma: $3455. Unit 2: Duplex Side A 2 bed/1 bath, Rent is $2045, Pro Forma: $2345. Unit 3: Duplex Side B 2 bed/1 bath, Rent is $1795, Pro Forma: $2345. Gross Income: $81,540. Cap Rate is approximately 4% but can be increased with Pro Forma rents up to 4.9%. ATTENTION DEVELOPERS: This Property falls within the Opportunity Zone which provides tax incentives with the intention to promote investment in economically distressed neighborhoods

Property Details & Features

Property Type

  • Detached

Year Built

  • 1948

Bathrooms

  • 4 full bathrooms
  • 4 total bathrooms

Bedrooms

  • 8 bedrooms
  • 8 total bedrooms

House

  • 2,975 estimated square feet
  • Built in 1948
  • 2 stories
  • 1 unit in complex
  • 2 story

Water

  • Public

Laundry

  • Garage

Listing

  • Source: SDMLS
  • For Sale
  • 15 days on market
  • Listed on 2022-06-10

Location

  • County: San Diego

Lot

  • Approximately 15,666 square feet
  • Approximately 0 acres

Garage

  • 1 garage parking space

Parking

  • 1 total parking space

Schools

  • Middle School: Sweetwater Union High School District
  • High School: Sweetwater Union High School District

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